Use Your Money Wisely

Public Notice

USE YOUR MONEY WISELY
DURING 2015
DON’T LOSE IT TO FRAUDULENT MONEY SCAMS

The Bank of Papua New Guinea (the Bank or Bank of PNG) continues to warn the public to be cautious and avoid placing their hard earned cash with promoters or agents of fast money schemes and scams. These fast money schemes/scams are illegal and fraudulent. People who place their money with promoters or agents of these money schemes/scams risk losing their hard earned cash. Be smarter than them, and use your money wisely during the festive season.

The Bank is aware of certain individual(s), agents or groups operating in many parts of PNG who ask innocent individuals to invest their cash in their operation with a promise for a hefty return of 100-2000% on their investment. They also claim that a huge sum of their money, gold or investments in Treasury bills and bonds (often in billions/trillions) is held by the Bank of PNG and is awaiting clearance for immediate payment.

The Bank is also aware of recent scams using mobile phone text and email messages, fraudulent documents with the signatures of Governor of the Bank of PNG, name of the prime Minister, Government Ministers and politicians, winning of lotteries and prizes, request for upfront fees for facilitating access to funds held in offshore accounts and other fraudulent means. These are all different types of scams which are illegal and fraudulent.

Be advised that the Bank of PNG does not deal with financial transactions for any individuals or private groups. The Bank only deals with financial transactions for the Government and licensed financial institutions in PNG. Do not send money for upfront fees to any nominated accounts locally or overseas, and avoid giving money to individuals and groups that promise to pay high returns.

If you have given your money to these schemers, you should report those individual(s) to the Police, or demand your money back from them.

REMEMBER: DO NOT PLACE YOUR MONEY WITH ILLEGAL FAST MONEY SCHEMES AND SCAMS. YOU SHOULD USE THE SERVICES OF LICENSED FINANCIAL INSTITUTIONS ONLY. BE SMART; USE YOUR MONEY WISELY DURING THIS YEAR 2015.

WISHING ALL THE PEOPLE OF PAPUA NEW GUINEA
A PROPEROUS HAPPY NEW YEAR 2015
GOD BLESS PAPUA NEW GUINEA

Authorised by:

LOI M BAKANI
GOVERNOR